Plastic Resin Trends and Forecast
The future of the global plastic resin market looks promising with opportunities in the packaging, automotive, construction, electrical & electronic, consumer good, and furniture & bedding applications. The global plastic resin market is expected to reach an estimated $1084.4 billion by 2030 with a CAGR of 4.6% from 2024 to 2030. The major drivers for this market are rising utilization of polyethylene terephthalate (PET) resins and increasing demand for lightweight and inexpensive multi-utility vehicle.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Plastic Resin by Segment
The study includes a forecast for the global plastic resin by type, application, and region.
Plastic Resin Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Polyethylene Terephthalate (PET)
• High Density Polyethylene (HDPE)
• Polyvinyl Chloride (PVC)
• Low Density Polyethylene (LDPE)
• Polypropylene (PP)
• Polystyrene (PS)
• Others
Plastic Resin Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Packaging
• Automotive
• Construction
• Electrical & Electronics
• Consumer Goods
• Furniture & Bedding
• Others
Plastic Resin Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Plastic Resin Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plastic resin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plastic resin companies profiled in this report include-
• BASF
• SABIC
• Dow
• Evonik
• Sumitomo
• Arkema
• Celanese
• Eastman Chemical
• Chevron Phillips Chemical
• Lotte Chemical
Plastic Resin Market Insights
Lucintel forecasts that polypropylene will remain the largest segment over the forecast period due to its widespread application among industries as it is incredibly lightweight, easy to transport, and has shatterproof qualities.
Within this market, packaging will remain the largest segment due to increasing consumer interest in packaged products like food & beverage.
APAC will remain the largest region over the forecast period due to expanding demand for plastic region in various end use industries, such as automotive, transportation, and packaging sector of the region.
Features of the Global Plastic Resin Market
Market Size Estimates: Plastic resin market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Plastic resin market size by type, application, and region in terms of value ($B).
Regional Analysis: Plastic resin market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the plastic resin market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the plastic resin market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the plastic resin market size?
Answer: The global plastic resin market is expected to reach an estimated $1084.4 billion by 2030.
Q2. What is the growth forecast for plastic resin market?
Answer: The global plastic resin market is expected to grow with a CAGR of 4.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the plastic resin market?
Answer: The major drivers for this market are rising utilization of polyethylene terephthalate (PET) resins and increasing demand for lightweight and inexpensive multi-utility vehicle.
Q4. What are the major segments for plastic resin market?
Answer: The future of the plastic resin market looks promising with opportunities in the packaging, automotive, construction, electrical & electronic, consumer good, and furniture & bedding applications.
Q5. Who are the key plastic resin market companies?
Answer: Some of the key plastic resin companies are as follows:
• BASF
• SABIC
• Dow
• Evonik
• Sumitomo
• Arkema
• Celanese
• Eastman Chemical
• Chevron Phillips Chemical
• Lotte Chemical
Q6. Which plastic resin market segment will be the largest in future?
Answer: Lucintel forecasts that polypropylene will remain the largest segment over the forecast period due to its widespread application among industries as it is incredibly lightweight, easy to transport, and has shatterproof qualities.
Q7. In plastic resin market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to expanding demand for plastic region in various end use industries, such as automotive, transportation, and packaging sector of the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the plastic resin market by type (polyethylene terephthalate (PET), high density polyethylene (HDPE), polyvinyl chloride (PVC), low density polyethylene (LDPE), polypropylene (PP), polystyrene (PS), and others), application (packaging, automotive, construction, electrical & electronics, consumer goods, furniture & bedding, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Plastic Resin Market, Plastic Resin Market Size, Plastic Resin Market Growth, Plastic Resin Market Analysis, Plastic Resin Market Report, Plastic Resin Market Share, Plastic Resin Market Trends, Plastic Resin Market Forecast, Plastic Resin Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.